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EURUSD Daily Market Analysis 3rd Oct 2024 by K9 Investments Trading

Writer's picture: K9 InvestmentsK9 Investments

Updated: Oct 9, 2024

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🚀 Intraday Trading Signals for (EURUSD)

💎 EURUSD Intraday Signals by K9 Investments Trading - www.k9investmentstrading.com

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Signal 1:

  • Buy Entry: 1.0565 (Near daily support level)

  • Stop Loss: 1.0540

  • Take Profit 1: 1.0600

  • Take Profit 2: 1.0635

Signal 2:

  • Sell Entry: 1.0675 (Resistance level)

  • Stop Loss: 1.0705

  • Take Profit 1: 1.0630

  • Take Profit 2: 1.0595

Disclaimer: Not Financial Advice. Trade at your own risk. Take Partial Profits, Use Strict Stop Loss, and Proper Risk Management.


🔍 EURUSD Daily and 4-Hour Market Analysis

Key Support & Resistance Levels

  • Daily Support Level: 1.0565

  • Daily Resistance Level: 1.0675

  • 4-Hour Support Level: 1.0580

  • 4-Hour Resistance Level: 1.0650

The EURUSD price is currently trading between major support and resistance zones. The price has been holding near 1.0565, which aligns with key Fibonacci retracement levels and strong support on the daily timeframe. A breakout above 1.0675 could trigger bullish momentum, while a drop below 1.0565 signals further bearish movement.


Fibonacci Retracement Levels

Using Fibonacci retracement on the daily chart, here are the key levels based on the recent high (1.0700) and low (1.0500):

  • 23.6% Level: 1.0555

  • 38.2% Level: 1.0605

  • 61.8% Level: 1.0655

These levels act as vital retracement zones that could provide support and resistance, offering potential trade entries.


Exponential Moving Averages (EMAs)

  • Daily Time Frame EMAs:

    • EMA 50: 1.0590

    • EMA 100: 1.0630

    • EMA 200: 1.0680

    • EMA 400: 1.0750


    4-Hour Time Frame EMAs:

    • EMA 50: 1.0585

    • EMA 100: 1.0615

    • EMA 200: 1.0660

    • EMA 400: 1.0725

The EURUSD is trading just below the EMA 50 on the daily chart, suggesting bearish momentum. The 200 EMA on the 4-hour chart also acts as a strong resistance level.


RSI Divergence

The RSI (Relative Strength Index) shows bearish divergence on the 4-hour chart. This could indicate a potential reversal near resistance levels, where sellers might gain control.


Order Blocks

On the daily chart, an order block can be identified near the 1.0620 level. This zone could serve as a potential entry for short positions if the price faces rejection from resistance.


MACD Analysis

The MACD histogram is showing a slight bearish crossover, confirming the downward pressure on EURUSD. If the price breaks below the 1.0565 level, this could confirm a larger downside move.


💡 EURUSD Daily Analysis Summary

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Key Levels:

  • Daily Support: 1.0565

  • Daily Resistance: 1.0675

  • 4-Hour Support: 1.0580

  • 4-Hour Resistance: 1.0650


EMAs on Daily Timeframe:

  • EMA 50: 1.0590

  • EMA 100: 1.0630

  • EMA 200: 1.0680

  • EMA 400: 1.0750


EMAs on 4-Hour Timeframe:

  • EMA 50: 1.0585

  • EMA 100: 1.0615

  • EMA 200: 1.0660

  • EMA 400: 1.0725


Weekly Pivots:

  • R1: 1.0680

  • R2: 1.0710

  • S1: 1.0580

  • S2: 1.0550


Daily Pivots:

  • R1: 1.0655

  • R2: 1.0700

  • S1: 1.0600

  • S2: 1.0560


Fibonacci Retracement Levels:

  • 38.2%: 1.0605

  • 61.8%: 1.0655


📈 Fundamental Analysis & USD News Impact

This week, key USD events to watch include the upcoming Non-Farm Payrolls (NFP) report, which will impact the EURUSD pair significantly. A stronger-than-expected NFP could lead to USD strength, causing a potential drop in EURUSD.

Additionally, the FOMC minutes will give insights into the Federal Reserve's future interest rate trajectory. High volatility is expected during these releases, which could impact your intraday trades.


📑 Frequently Asked Questions


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8.Does K9 offer premium signals? Yes, we offer both free and premium signals to cater to all traders. Visit our website for more information.


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